NANA distributes $1.2M to elder shareholders

February 18, 2011by Alex DeMarban

The NANA Elders' Settlement Trust issued $2,000 apiece to the Native regional corporation's 618 elder shareholders on Feb. 4, according to written statements from the company. The total amount of money distributed was $1.2 million.

The trust was created in 2008 to distribute money to NANA shareholders 65 years or older, many of whom lived on fixed incomes. NANA's board of directors approved the distribution on Nov. 18, according to The Hunter, a periodical published by NANA Regional Corp.

The distribution from the Kotzebue-region Alaska Native corporation included $500 to help pay for taxes associated with the distribution. The money was to arrive in direct-deposit accounts on Feb. 4 or later in the month for snail-mailed deposits.